Finnish traders achieve regulated entry to crypto ETPs as Virtune launches 5 euro-denominated merchandise on Nasdaq Helsinki.
Virtune, a Swedish crypto asset supervisor, has launched Finland’s first crypto exchange-traded merchandise on Nasdaq Helsinki, making it simpler for Finnish traders to spend money on crypto instantly in euros.
The launch contains 5 totally different ETPs, all bodily backed and absolutely collateralized, the asset supervisor mentioned in a Jan. 20 press launch. The merchandise can be found by means of main Nordic brokers like Nordnet.
Virtune chief govt Christopher Kock referred to as the launch a “essential milestone,” saying, the agency is “thrilled to introduce Finland’s first crypto ETPs and to be the pioneer in bringing safe and controlled crypto ETPs to the Nordic markets.”
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The ETPs provide publicity to prime cryptocurrencies, together with Bitcoin (BTC), Ethereum (ETH) with staking rewards, XRP (XRP), and Solana (SOL) with staking advantages. There’s additionally an altcoin index monitoring 10 large altcoins.
“ETN merchandise present entry to different investments whereas sustaining the transparency of a regulated market, and we’re completely happy to launch this new phase at Nasdaq Helsinki with Virtune as the primary problem.”
Henrik Husman, president of Nasdaq Helsinki
Virtune’s ETPs additionally mark the biggest simultaneous crypto ETP launch in Nordic historical past as they open Finland’s €20.5 billion ETP market to crypto, permitting traders to make use of their current brokerage accounts.
In early January, Offchain Labs, the group behind Arbitrum, employed Ira Auerbach, the previous head of digital property at Nasdaq, to steer its new enterprise capital arm referred to as Tandem. In his new function as head of Tandem, Offchain Labs’ companion studio and VC arm, Auerbach will assist establish and help promising blockchain tasks. He joins Offchain Labs from Nasdaq, the place he oversaw the digital property division.
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